Malabar Gold gives scholarships to 1,000 girl students

Hyderabad: As a part of corporate social responsibility (CSR) initiative, Malabar Gold and Diamonds has distributed scholarships to girl students from across the city. The company has announced scholarship amount of Rs 5,000 each. Over 1,000 students were identified on a merit basis and 500 of them were handed over the cheques at Bharatiya Vidya Bhavan on Tuesday.

The remaining students will also be given scholarship cheques in coming few days. The jewellery retailer group also announced plans to provide scholarships to over 5,500 deserving girl students across Telangana region from underprivileged families. It will be providing scholarships ranging from Rs 6000 –Rs 10000/- in near future.

As part of the group's commitment to socially responsible causes, Malabar Gold and Diamonds allocates 5 per cent of its profits for charitable and philanthropic activities in the region. The key areas of focus for the CSR activities include housing assistance, medical aid, environmental protection and women empowerment and education.

In the last 20 years, the CSR wing of Malabar Group - Malabar Charitable Trust has disbursed over Rs 33 crore as medical aid and supported more than 6 lakh people in need. Malabar Housing Charitable Trust was established in 2004 in order to provide housing assistance to poor and needy families. To date, the trust has provided more than Rs 47-crore worth of funds to over 15,000 families.

Under the initiative 'Homes for Homeless' , Malabar Group has provided financial aid of Rs 50,000 each to over 250 individuals for the construction of their houses. Since 2007, it has supported education programmes for girls, and provided scholarships to girls studying at government junior colleges, with financial assistance amounting to Rs 2000-3000 each year for intermediate first year students.